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Explaining the world one sketch at a time
Debt’s vicious cycle
Debt's vicious cyle—a flow chart that illustrates how those in need, who needed to borrow, can be hamstrung by the interest they need to pay back, giving them less money to work with, needing more cash, increasing the loan, paying more interest and on. The reverse scenario is the positive cycle of "the rich get richer" or "money begets money." Hat tip: Avraham Byers.…Debt's vicious cyle—a flow chart that illustrates how those in need, who needed to borrow, can be hamstrung by the interest they need to pay back, giving them less money to work with, needing more cash, increasing the loan, paying more interest and on. The reverse scenario is the positive cycle of "the rich get richer" or "money begets money." Hat tip: Avraham Byers.WWW…
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Rule 1 of indoor games: Play until something gets broken
I'm not advocating it. It just seems to always be the case.…I'm not advocating it. It just seems to always be the case.WWW…
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Watch for the lie factor
Data graphics can lie in many ways, but the most common, I expect, is the error of using area or volume objects to represent one-dimensional data. More data visualisation principles from Edward Tufte. Also, see Maximise data ink…Data graphics can lie in many ways, but the most common, I expect, is the error of using area or volume objects to represent one-dimensional data. More data visualisation principles from Edward Tufte. Also, see Maximise data inkWWW…
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Six thinking hats
The classic 6 Thinking Hats framework from Edward De Bono. Though I’m yet to be in a meeting where everyone’s familiar enough with it that it wouldn’t sound a bit strange to propose it. Ah well. Also see: Build Your Own Panel of Advisors Lateral thinking series - part 1 Things get more complex before they get simple…The classic 6 Thinking Hats framework from Edward De Bono. Though I’m yet to be in a meeting where everyone’s familiar enough with it that it wouldn’t sound a bit strange to propose it. Ah well. Also see: Build Your Own Panel of Advisors Lateral thinking series - part 1 Things get more complex before they get simpleWWW…
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The Betty Crocker Effect
The Betty Crocker effect refers to how, in the world of instant cake mixes, when something is too easy, it reduces the value. The legend goes that instant cake mixture that just needed water didn't sell nearly as well as when you needed to add an egg. Adding the egg yourself gives investment in the process of making the cake, so we appreciate it more, and the extra effort demonstrates the act of love that is baking a cake. Rather similar is the IKEA effect. As is so often the case, Dan Ariely explains it well. 20mins well spent watching Dan Ariely's TED talk What makes us feel good about our work?. You can jump straight to it around 12mins 50s.…The Betty Crocker effect refers to how, in the world of instant cake mixes, when something is too easy, it reduces the value. The legend goes that instant cake mixture that just needed water didn't sell nearly as well as when you needed to add an egg. Adding the egg yourself gives investment in the process of making the cake, so we appreciate it more, and the extra effort demonstrates the act of love that is baking a cake. Rather similar is the IKEA effect. As is so often the case, Dan Ariely explains it well. 20mins well spent watching Dan Ariely's TED talk What makes us feel good about our work?. You can jump straight to it around 12mins 50s.WWW…
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